Why is a Marital Separation Agreement important?
A marital separation agreement is only important for couples that have property, debts, and children. If you do not own any type of property or own huge debts together then a marital separation agreement may not be important at all. A marital separation agreement for couples that have children can be important if you both agree on which person will have physical custody of the children, how much child support will be paid, and all other problems that arise with caring for the children until the age of 18.
Never rely on an oral agreement with your spouse on the division of any property, debt or the care of the children. A divorce can be an emotional time and many couples quickly change their mind and want to change their oral agreements. If you have a marital separation agreement then the court has a legal contract that both of you agreed to at the time of the writing.
Of course, if you both sat down prior to having children, a new home, and so on and so forth and wrote the marital separation agreement, just in case. The agreement will not mean too much since it does not include all property that needs to be divided and issues that pertain to the children.
To learn more about all the items you should include in your marital separation agreement, you should talk with a divorce lawyer in your state. If you both have your attorney present at the time of the writing, it may be a smoother and less painful experience.